Nushares ETF Trust - Nuveen AA-BBB CLO ETF
NCLO
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- NuShares ETF Trust – Nuveen AA-BBB CLO ETF is an actively managed, non-diversified exchange-traded fund that seeks a high level of current income and total return through investments in debt tranches of third-party-managed collateralized loan obligations. Trading on NYSE Arca under the ticker NCLO, the Fund invests, under normal conditions, at least 80% of net assets plus borrowings for investment purposes in CLO debt tranches of any maturity rated from AA+ through BBB-, or securities deemed by its management team to be of comparable quality. Its investment portfolio principally comprises investment-grade CLO securities, including floating- and fixed-rate tranches backed by portfolios of broadly syndicated corporate loans; it may also make limited investments in below-investment-grade CLO tranches, other debt instruments, cash and cash equivalents, and derivatives for investment or risk-management purposes. The Fund is designed for investors seeking exposure to investment-grade structured credit and income-oriented fixed-income securities, and does not seek to replicate an index. Nuveen Fund Advisors, LLC serves as investment adviser, with Nuveen Securities, LLC acting as distributor; the Fund is part of the Nuveen NuShares ETF platform, managed by Nuveen, the investment manager of TIAA. NCLO was launched on December 10, 2024, with portfolio management led by Himani Trivedi and Joshua Grumer. Its principal operational base is in the United States through Nuveen’s investment-management organization, headquartered in New York, New York. The Fund’s principal recent strategic development was its December 2024 launch, which expanded Nuveen’s alternative-investment offerings for wealth-market investors by providing exchange-traded access to AA-BBB rated CLO debt tranches and using the J.P. Morgan CLO A Index as a reference benchmark.